BAM Overcomes Weak Comps

The addition of 41 former Borders stores helped to give Books-A-Million its best holiday season in years for the quarter ended January 28, 2012, but how well that strategy will play out for the full year isn’t yet clear. While fourth quarter sales rose 10.7%, to just under $167 million, comparable store sales fell 5.7%. Earnings in the period rose to $7.5 million from $6.8 million. Executive chairman Clyde Anderson (who turned over the reins of CEO to Terry Finley last week) said in a conference call that despite the absence of Borders, customer traffic did not show a meaningful increase in the quarter. He noted that BAM and Borders stores had competed directly in only 15 locations. Asked about BAM’s future store plans, Finley told PW, “We will continue to be opportunistic in our real estate strategy, looking for underserved markets and attractive deals.” Continue reading at 'Publishers Weekly'

[ Publishers Weekly | 2012-03-16 00:00:00 UTC ]
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[ The Bookseller | 2011-06-01 00:00:00 UTC ]
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